What can art teach us about economics? Portrait of Joseph Haydn. Source: Royal College of Music People often discuss the economics of art – how supply and demand can raise the prices of Renaissance or Impressionist works to insane levels, or how ironic it is that great paintings can’t be sold for much while the artists are still alive. But art has something else to tell us about the productive process. There’s a lot that we just don’t understand. For example, in history we [...]

“I’m sorry Dave. I’m afraid I can’t do that.” HAL 9000 Interface. Illustration Grafiker61. Source: Wikipedia That’s what the HAL 9000 computer says to Dr. David Bowman when he tells HAL to “Open the pod-bay door.” HAL had gone rogue and Bowman was in an EVA pod outside the spacecraft. And that’s what a lot of people are worried about in our current robotic revolution. Robots have replaced workers in a whole host of industries, especially in manufacturing. Look at the way factories are [...]

Why do our best ideas often come to us in the shower? Photo: Jonathan Sautter. Source: Pixabay Creativity is a funny thing. Creative people are at the heart of technological innovation, whether it’s science, engineering, or finding the right music to energize your workout. Ancient cultures saw inspiration as a gift from the gods, a literal bolt from the blue. That’s why Homer and Hesiod start their great works with a prayer to the Muse. But creativity is also a disciplined process, where people [...]

How do we innovate? Our economy runs on creativity and innovation. Innovation created light bulbs. It inspired the internet. It allows new ideas to flourish, like transistors, integrated circuits, and laser beams. But where does innovation come from? Inventor Art Fry with Post-It note. Source: Wikipedia Innovators often feel guilty, because they didn’t really do anything. They just connected a couple of ideas and saw something new. It seemed obvious at the time. A specific problem went searching for a solution—and that solution was adapted [...]

Why do our best ideas often come to us in the shower? Creativity is a funny thing. Creative people are at the heart of technological innovation, whether it’s science, engineering, or finding the right music to energize your workout. Ancient cultures saw inspiration as a gift from the gods, a literal bolt from the blue. That’s why Homer and Hesiod start their great works with a prayer to the Muse. But creativity is a disciplined process as well, where people have to exercise their [...]